Home Loan Articles

Pros And Cons Of Interest Rate Drop

personOtto Dargan access_timeDecember 14, 2020

On November 3rd, the Reserve Bank of Australia (RBA) announced a record low interest rate cut that reduced the cash rate to an unprecedented 0.10 per cent.  A rate cut can prove beneficial with home financing, but the impact depends on what type of mortgage the client has, whether...

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Where, What And Who Is Using The FHLDS?

personOtto Dargan access_timeDecember 2, 2020

An interactive map-tool launched by the NHFIC lets first home-buyers see where people are buying their first homes, their ages, income, and deposit saved. The tool aids buyers make a better purchase decision. The NHFIC rolled out the First Home Loan Deposit Scheme (FHLDS) to...

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NSW Stamp Duty Changes: What Are The Benefits?

personOtto Dargan access_timeNovember 19, 2020

The New South Wales government is proposing to abolish stamp duty as part of its 2020-21 budget announcement on 17 November 2020. Instead of paying stamp duty upfront, it would be replaced by an annual land tax. Stamp duty is a government tax paid when you buy a property. First...

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RBA Cash Rate Cut – Will Lenders Pass On The Rate Cut?

personOtto Dargan access_timeNovember 10, 2020

The Reserve Bank has unveiled its new measures along with the record low cash rate cut to 0.10%. It is a measure taken to support job creation and the recovery of the Australian economy. Following its traditional Melbourne Cup Day meeting, bank governor Philip Lowe said the...

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Why You Shouldn’t Let The Pandemic Put Your Plans For Pre-approval On Hold

personOtto Dargan access_timeOctober 22, 2020

It’s hard to believe we’re in the middle of a pandemic with the Australian Bureau of Statistics (ABS) data shows that Australians secured $16.3 billion in owner-occupier loans in August 2020. This is a 13.6% increase in August, which is the largest rebound since...

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First Home Loan Deposit Scheme: 10,000 New Places Added

personOtto Dargan access_timeOctober 7, 2020

The federal government added another 10,000 new places under the First Home Loan Deposit Scheme (New Homes) for first home buyers looking to purchase a new home or a newly built home. Also known as the FHLDS New Home Guarantee, eligible first home buyers can reserve one of the...

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Pros And Cons Of Refinancing Your Home Loan

personOtto Dargan access_timeOctober 2, 2020

According to CoreLogic’s early market indicators (as of 27 September 2020), refinancing mortgages rose 1.46% over the past week. Refinancing was up 22.11% year on year, compared to a 10.68% rise on mortgages for a new purchase. Source: CoreLogic’s Early Market Indicators...

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$1 LMI For First Home Buyers

personOtto Dargan access_timeJuly 17, 2020

A non-major lender has announced that you’ll only need to pay $1 in Lenders Mortgage Insurance (LMI) if you’re borrowing 85% of the property value.  The $1 LMI offer for first home buyers offer is effective from 13 July 2020.  One of the pain points for a first home buyer...

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First Home Loan Deposit Scheme: How To Secure Your Spot?

personOtto Dargan access_timeJune 26, 2020

It came as no surprise that first home buyers quickly snapped up all 10,000 places of the First Home Loan Deposit Scheme during the last financial year. Under the scheme, first home buyers with a 5% deposit saved anywhere between $10,000 and $30,000 in LMI fees based on the maximum...

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Will Your Income Be Affected By The Coronavirus?

personOtto Dargan access_timeMarch 17, 2020

How will coronavirus affect employment? A long period of low unemployment has left many Australians unprepared for a period of reduced income. As social distancing, work from home and potentially lockdowns affect Australia it’s likely that many people will not be able to work...

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